CarDekho group, an Indian automotive tech company, has recently acquired Carmudi Philippines, the largest used car classified platform in the country.
The Philippines is the second Southeast Asian country that CarDekho is operating in, with Indonesia being the first under the brand name OTO.com. Through the acquisition of Carmudi, CarDekho aims to work towards digitalizing the Philippine auto ecosystem. CarDekho will focus on building up and digitizing the ecosystem and offer solutions to both new and used car buyers.
Mr. Umang Kumar, Co-Founder, and President of the CarDekho group said:
We are excited to expand our international footprint and invest in the new region. Philippines’ underlying macro fundamentals make it an extremely promising market. We see this growth as a big opportunity to digitize the Philippines’ auto ecosystem and engage with consumers throughout their online car buying journey.